STARTUPS
Pathao co-founder Elius’ new startup raises USD 3.8 mln
Wind.app, a fintech startup founded by Hussain Elius, former CEO and co-founder of the Bangladeshi ride-sharing platform Pathao, has recently received USD 3.8 million in pre-seed funding.
Bangladeshi startup Drutoloan raises USD 125k in pre-seed round
Druto Fintech Limited, a Bangladeshi fintech startup, has recently secured USD 1,25,000 in a pre-seed funding round. The investment comes from both local and foreign backers such as Ridwan Hafiz, CEO of GoZayaan, and Razy Shah, co-founder of Singapore's 2Stallions Digital Marketing Agency, as well as other investors.
Orange Corners Bangladesh hosts investor meet
Orange Corners, an initiative of the Ministry of Foreign Affairs of the Netherlands, has recently hosted its first-ever Investors Meet, jointly organised by the Embassy of the Netherlands in Bangladesh and SAJIDA Foundation.
Cybersecurity company EIC selected for Stanford seed program
Enterprise Infosec Consultants (EIC), a Bangladeshi cybersecurity service provider, has been selected to participate in the Stanford Seed Transformation Program. According to a press release, the program is recognised for its curriculum and insights sourced from the Stanford Graduate School of Business.
ShareTrip launches ST Pay; gets new round of investment
ShareTrip, an online travel agency in Bangladesh, has launched a new financial service called ST Pay (ShareTrip Pay). A new round of investment in ShareTrip from Startup Bangladesh was also announced alongside the new feature.
Edtech startup Interactive Cares raises $100k funding
Interactive Cares, a Dhaka-based ed-tech startup, has $100,000 in funding from a seed round in the 9th cohort of Accelerating Asia's accelerator program.
Startup Bangladesh to invest Tk 100cr in 46 startups
Startup Bangladesh Limited, a government-backed venture capital firm, is set to inject Tk 100 crore into 46 selected startups, aiming to strengthen the country's startup ecosystem. Since its establishment in 2020, the company has actively approved investments totaling Tk 73.50 crore across 28 companies, dispersing Tk 64 crore. These investments span critical sectors such as healthtech, agritech, edtech, logistics, fintech, e-commerce, and renewable energy.
Registration now open for Shark Tank Bangladesh Season 1
The internationally acclaimed business reality show, Shark Tank, has officially opened the doors to its Bangladeshi adaptation, inviting enterprising individuals from across the nation to participate in its first season.
Bangladeshi startup Dark Kak wins award at She Loves Tech 2023
Dark Kak, a Bangladeshi tech startup that works with Augmented Reality (AR) with the Internet of Things (IoT), has won an award for their upcoming project ‘Smart Jewellery’. The award, titled ‘Catalyzing Women’s Entrepreneurship Award’, was presented by the United Nations Economic and Social Commission of Asia and the Pacific (UN ESCAP) at the She Loves Tech 2023 conference held at the Fairmont Hotel in Singapore. Dark Kak was entitled to a 15,000 USD cash prize from UN ESCAP and She Loves Tech.
Investment in Bangladeshi startups sees significant decline
The local startup scene is experiencing notable downward shifts in funding trends, even as the global startup ecosystem indicates slight growth. On a global scale, startup investments have risen marginally by 7%, totalling a formidable USD 73 billion in the third quarter of this year. But funding in Bangladesh plummeted to a mere USD 4.0 million in Q3 2023, a drastic 77% decline in comparison to the same period last year. This trend was revealed in the recently released Bangladesh Startup Investment Report for Q3 2023 by LightCastle Partners.
Medicine delivery startup Arogga raises $5.5M
Arogga, a local medicine delivery startup, has recently raised US$5.5 million seed in a funding round led by The Venture Collective, a US-based venture capital firm, with participation from other international investors. As per an official press release, the startup secured $4 million in new capital, building on the $1.5 million raised in the previous year.
Shark Tank comes to Bangladesh
The globally acclaimed business show, 'Shark Tank', which has aired in over 40 countries, is set to have a localised version in Bangladesh. Sony Pictures Entertainment and Bongo has inked a deal to introduce the popular reality show in the country with Robi on board as the 'Title Sponsor', supported by Startup Bangladesh as the 'Powered by' collaborator.
Pathao among 40 global technology companies beating their Western rivals
Pathao, the popular on-demand digital platform, has been chosen as one of the top 40 global technology firms that are outperforming their Western counterparts. The list was prepared by Rest of World, a New York-based tech-focused news publication founded by Sophie Schmidt, the daughter of former Google CEO Eric Schmidt.
Grab reportedly in talks to grab Foodpanda's business in Asia
Delivery Hero, the Berlin-based parent company of Foodpanda, has confirmed ongoing discussions about a partial sale of its Asian operations. Singapore's tech giant, Grab, is reportedly the front-runner in this potential acquisition. While the exact value of the deal remains undisclosed, market insiders speculate that the transaction could exceed 1 billion euros for the Foodpanda brand across several Southeast Asian nations.
Bangladeshi startup MedEasy raises $750K in seed funding
MedEasy, a Dhaka-based online pharmacy startup, has successfully closed a seed funding round, raising $750,000. The investment is aimed at expanding its services and bridging the healthcare gap for Bangladesh’s 30 million chronic patients. The funding round was led by Seedstars International Ventures, Doha Tech Angels, Startup Bangladesh Limited, Accelerating Asia, and nVentures, with additional participation from various angel investors.
2 Bangladeshis named in Vogue Business 100 Innovators 2023
Two Bangladeshis have been listed in the Vogue Business 100 Innovators for the year 2023.
Bangladesh Women Investors Network launches startup fellowship for women
The Bangladesh Women Investors Network (BWIN) is launching an initiative called Bloom Fellowship that aims to equip young women with skills and knowledge required to perform in startup environments. It is a semester-long talent accelerator program with curated mentorship, training, and internships designed towards Bangladeshi women between the ages of 20 and 24.
Bangladeshi Nabanita in Forbes’ 30 under 30 Toronto list
Nabanita Nawar, a Bangladeshi researcher and entrepreneur residing in Canada, has been featured in the Forbes’ ‘30 Under 30 Local: Toronto’ list. This is the popular business magazine’s first-ever list of this kind, and she is the only Bangladeshi to be featured.
